AMC Entertainment has set a record for its most lucrative Memorial Day weekend in history, with ticket and concession sales exceeding expectations. The cinema chain credited the releases of Lilo & Stitch and Mission: Impossible — The Final Reckoning with drawing crowds.
The weekend saw a significant increase in admissions income, food and beverage sales, and total revenue at US theaters. Americans spent $326.7 million on tickets over the holiday weekend, topping the previous record from 2013.
AMC CEO Adam Aron expressed optimism about the industry’s future, stating that moviegoers’ preference for theatrical moviegoing has turned a corner. The company’s shares rose 9% recently but have fallen 11% so far this year.
Lilo & Stitch and Mission: Impossible — The Final Reckoning were among the top-performing movies over the weekend. The live-action remake of Lilo & Stitch grossed $183 million in domestic ticket sales, while the Paramount action movie sold $77.5 million. Disney shares rose nearly 2%, while Paramount’s stock increased less than 1%.
Source: https://www.investopedia.com/amc-announces-record-breaking-memorial-day-numbers-thanks-to-lilo-and-stitch-11742074